ENVIR ST 112 Lecture Notes - Lecture 3: Washington Consensus, Free Trade, International Development

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[third world indebtedness in the 1980s: interest rates increases] [the washington consensus: the ten principles originally by. John williamson in 1989, includes ten sets of relatively specific policy recommendations. Reducing public spending, especially in the form of subsidies c. Trade liberalization d. liberalization of inward foreign direct investment e. privatization of state enterprises f. deregulation: legal security for property rights] Hyperinflation: (25000%~ what costs 1 dollar will cost 25000 dollars next year) Loans are given only if bolivia agrees to private: railways, telephone system, national airplanes, and hydrocarbon industry. World bank: no loans if water is subsidized. Two narratives on water privatization: theft of public resources for private gain, subsidies went for the rich and middle class, not efficient> need private corporation to fix problems. Local water utility semapa(cochabamba water utility) was sold to agua del tunari. Mononpoly over all water in areas of concession (even the.

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